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will senate republicans embrace the latest framework for a fiscal cliff deal? also how failure to get a fiscal cliff deal could lead to a mortgage rate free fall. "piles of money" coming up. ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just onreason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risksfees and expenses to read and consider carefully before investing. why does my mouth feel dryer than i remember it to be? there are more people taking more medication, so we see people suffering from dry mouth more so. we may see more cavities, bad breath, oral irritation. a drmouth sufferer doesn't have to suffer. i would recommend biotene. the enzymes in biotene products help supplement enzymes that are naturally in saliva. biotene helps m
will senate republicans embrace the latest framework for a fiscal cliff deal? also how failure to get a fiscal cliff deal could lead to a mortgage rate free fall. "piles of money" coming up. ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just onreason over 75% of our mutual funds beat...
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Dec 31, 2012
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now he's got the fiscal cliff. blame the republicans. and the truth is, in the short-term, the g.o.p. gets the blame. and they deserve it a little bit. but in the long-term, things change. stuart: you are a republican strategist. why do you say that republicans deserve some of the blame short-term? >> well, they deserve it the same way everyone in washington deserves it. no one in washington is incentiveized to think about the long-term. everyone is thinking about the short-term. by the way we see this in the private sector as well where companies think about, you know, the next quarter and never think about the long-term. the problem is the government gets to kick this can down the road endlessly and it is our cans they are kicking. stuart: if you are a republican and you see a bad policy coming down the pike at you, and you're supposed to compromise with it, namely, raising tax rates on the rich, should you do that just to get along with the other side? just to get a deal? just to get some compromise? or should you stick with the princ
now he's got the fiscal cliff. blame the republicans. and the truth is, in the short-term, the g.o.p. gets the blame. and they deserve it a little bit. but in the long-term, things change. stuart: you are a republican strategist. why do you say that republicans deserve some of the blame short-term? >> well, they deserve it the same way everyone in washington deserves it. no one in washington is incentiveized to think about the long-term. everyone is thinking about the short-term. by the...
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gerri: we have been saying, congress will not need the midnight deadline to avert the fiscal cliff. congress will not. the negotiations continue into tomorrow. let's bring in a congressman who will be critical to the process. republican of wisconsin, a member of the house budget committee. welcome back to the show. great to see you here. first, breaking news detail i want to get your reaction to. we just heard the vice-president will meet with senate democrats tonight. what do you think that's about? >> i'm not exactly sure. unless they're having some type of problem with the spending side of the equation, i never have reached some type of agreement on taxes, but i know that makes mcconnell was working with vice-president biden on the spending side. and so there may be some person that has to go on the senate democrats to get the bill passed gerri: arm-twisting everywhere. let's talk about this potential deal as it has been outlined to us. we would have tax hikes on folks with incomes above 400,000 if your single, above water and 50,000 if you're a couple. permanent patch to anc, th
gerri: we have been saying, congress will not need the midnight deadline to avert the fiscal cliff. congress will not. the negotiations continue into tomorrow. let's bring in a congressman who will be critical to the process. republican of wisconsin, a member of the house budget committee. welcome back to the show. great to see you here. first, breaking news detail i want to get your reaction to. we just heard the vice-president will meet with senate democrats tonight. what do you think that's...
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. >> a special because we are talking about the fiscal cliff, an especially bad year for republicans, not only losing the presidency by four points and lost winnable senate seats. they got slaughtered with latinos, problems with young people, women. the democrats, they obviously did not win back the house. the senate looks like will be tough in 2014. looking at the fiscal cliff on the democrat side, it is very important that the president convince people that he's serious about the deficit in 2013 and for republicans one of my resolutions is that they try to not be the party of the rich any longer. both party haves a perception problem. the exit polls bared that out. the election bared that out and passing the fiscal cliff and looks like we will have kind of another temporary crisis in the next month or three months, they again have to fight the stereotypes and label that is built up. >> one of those jumped out at me. maybe run it by you. for the democrats, the argument of don't offend gun owners and manners, you don't want to offend anybody needlessly, a voter or group. i get that. y
. >> a special because we are talking about the fiscal cliff, an especially bad year for republicans, not only losing the presidency by four points and lost winnable senate seats. they got slaughtered with latinos, problems with young people, women. the democrats, they obviously did not win back the house. the senate looks like will be tough in 2014. looking at the fiscal cliff on the democrat side, it is very important that the president convince people that he's serious about the...
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next we'll hear from republican congressman howard mckin about the fiscal cliff talks from the other side of the aisle. this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am i on the naughty list again? ho ho ho! >>> secretary of state hillary clinton will be ringing in the new year from a hospital. doctors closely monitoring clinton for the next couple days. they discovered a blood clot during a followup exam related to a concussion she suffered earlier this month. the state department issued this statement saying "she's being treated with blood thinners and is at new york hospital to monitor the medication. her doctors will continue to assess her condition including other issues associated with her concussion."
next we'll hear from republican congressman howard mckin about the fiscal cliff talks from the other side of the aisle. this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's double miles you can actually...
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Dec 31, 2012
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they're going to talk to us about the fiscal cliff. are they happy or sad? and can they rise above to get a deal done? "closing bell" will be back after this break. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5412. >>> we're getting ever closer to midnight. ticktock, ticktock. despite encouraging signs, there's still no final fiscal cliff deal. e mamon j
they're going to talk to us about the fiscal cliff. are they happy or sad? and can they rise above to get a deal done? "closing bell" will be back after this break. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any...
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republicans to date, once the nation goes over the fiscal cliff, it's the democrats who could revolve. as soon as taxes go up tomorrow and republicans will be racing, democrats assume, will be racing to find a way to bring taxes down, and many democrats are of the opinion that that will give democrats enormous leverage come tomorrow. they'll have more negotiating power come tomorrow. you might see democrats tomorrow be even less willing to sign on to this deal. in 24 hours, democrats might like today's deal even less, wolf. >> it's getting more and more complicated as the delay continues over at the white house. are they at least suggesting that if we go over the cliff tomorrow, that there's still a possibility that both -- let's say the senate doesn't act tonight, that they act sometime tomorrow. they say they can still resolve this, so for practical purposes, the worst parts of this fiscal cliff won't be really felt by the american public? >> absolutely. the problems are not technical. in terms of putting off the taxation and what has to be done mechanically with the irs, so that am
republicans to date, once the nation goes over the fiscal cliff, it's the democrats who could revolve. as soon as taxes go up tomorrow and republicans will be racing, democrats assume, will be racing to find a way to bring taxes down, and many democrats are of the opinion that that will give democrats enormous leverage come tomorrow. they'll have more negotiating power come tomorrow. you might see democrats tomorrow be even less willing to sign on to this deal. in 24 hours, democrats might like...
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one other thing from the president's speech, the fiscal cliff will end. now the super cliff in february and march. looks like a huge battle of the sequester. republicans want different spending cuts and debt ceiling on top of it. get ready for the super cliff? >> so you are saying today is just a band-aid. >> listen, the battle will be more fervent in the spring. it doesn't sound like they will delay it. that's an even bigger battle, i think. >> i think governor greg man u, some say he is partisan on the right, he had an op ad over the weekend. if we want to be a nation that gives people unlimited healthcare and social security no matter what you pay in, taxes have to go up on everybody. do you agree? >> answerly. tax absolutely. we can give reasonable benefits, controlled, smart spending with, do all those things and keep tax cuts at a reasonable rate. >> with the average single income household. let's say the man works, wife doesn't, or vice versa. it is $6 used versus every $1 paid in. 6-1. can clearly unsustainable. >> we need far more fundamental ref
one other thing from the president's speech, the fiscal cliff will end. now the super cliff in february and march. looks like a huge battle of the sequester. republicans want different spending cuts and debt ceiling on top of it. get ready for the super cliff? >> so you are saying today is just a band-aid. >> listen, the battle will be more fervent in the spring. it doesn't sound like they will delay it. that's an even bigger battle, i think. >> i think governor greg man u,...
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. ♪ >> this country is about to take a plunge over the fiscal cliff. who is really to blame? watcjomg this one. >> president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. >> the republicans in the house have decide to do rundown an alley that has no exit. >> republicans aren't about to write a blank check or anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> every time we come to a solution it was a year and a half ago in the summer right now the republicans walk away. >> don't automatically assume the president wants to cut a deal. i think he wants to wait to see if he gets blamed for it before he starts really negotiating. >> nobody can get 100 percent of what they want. this is not a contest between parties in terms of who looks good and who doesn't. >>> the real consequences to what we do. >> fox news contributor and democratic pollster doug sho/* schoen is here. >> the latest poll indicates that the country 44 percent blame congress
. ♪ >> this country is about to take a plunge over the fiscal cliff. who is really to blame? watcjomg this one. >> president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. >> the republicans in the house have decide to do rundown an alley that has no exit. >> republicans aren't about to write a blank check or anything senate democrats put forward just because we find ourselves...
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this is the final day of the fiscal cliff countdown. the possibility of tax hikes, spending cuts, and a recession all looming at midnight. democrats and republicans turning to their so-called closers to cut a compromise deal. vice president joe biden, senate minority leader mitch mcconnell working behind closed doors, two men who have worked together for 20 years. the ho use and senate back in session in just a few hours. we're not seeing much progress. one significant stumbling block has been sidestepped. republicans reported dropping their demand to slash social security cost of living increases, the chain cpi that had been briefly on the table. what are the chances we'll get the deal done today? let's listen to republican congressman jason chaffetz earlier on "starting point." >> the united states senate hasn't passed a budge net four years. they have not brought up a single thing for vote on this particular bill. come on, the senate has got to do their job. that's how it works around here. >> more of the same old blame game. senator
this is the final day of the fiscal cliff countdown. the possibility of tax hikes, spending cuts, and a recession all looming at midnight. democrats and republicans turning to their so-called closers to cut a compromise deal. vice president joe biden, senate minority leader mitch mcconnell working behind closed doors, two men who have worked together for 20 years. the ho use and senate back in session in just a few hours. we're not seeing much progress. one significant stumbling block has been...
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coming down to the wire as we approach the fiscal cliff. still without a solid deal in place, but both the president and mitch mcconnell, the senator on the republican side, say we're close. up next, allison deans shows you what to invest in whether we have a deal or whether we fall over that edge. ♪ liz: talk about a cliffhanger, with just minutes left in the trading day, the nation's toes clinging like this, like kilroy, right? over the edge of the fiscal cliff. no deal written in stones, but the markets still believe -- 139 points for the dow jones industrials -- that there may be some type of deal. join us now, allison deans, the senior adviser at varick asset management. we brought you in because you're so good at this kind of stuff, and we thought what we should invest in there is no deal or if there is a deal. what's your mind telling you? >> i think there will be a deal. i think if it doesn't happen tonight, they'll exing tend -- extend some of the benefits, and my sense is it'll be a compromise for both parties. it's just a shame
coming down to the wire as we approach the fiscal cliff. still without a solid deal in place, but both the president and mitch mcconnell, the senator on the republican side, say we're close. up next, allison deans shows you what to invest in whether we have a deal or whether we fall over that edge. ♪ liz: talk about a cliffhanger, with just minutes left in the trading day, the nation's toes clinging like this, like kilroy, right? over the edge of the fiscal cliff. no deal written in stones,...
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. >>> the possible fiscal cliff isn't the only thing happening at the stroke of midnight. more than 400 new laws take effect. some have a major impact including in new hampshire partial birth abortions will be banned. same sex couples will be able to marry in maryland. also registered sex offenders in illinois will no longer be able to dress up like santa or the easter bunny and will not be allowed to hand out candy on halloween. then there are some laws that just make you kind of go, hum. it will now be illegal for employers to require or request social media passwords in several states including maryland, new jersey, and delaware. motorcyclists in illinois can now run a red light if that light fails to change. in florida, your swamp buggy will no longer be considered a motor vehicle. >>> it is about 50/50 right now. i obviously would like to see a deal that would avoid the cliff but it depends on the content of the deal. >> it's a shame and disgrace that we are where we are. the american people are fed up first of all with this process. secondly, with the priorities that
. >>> the possible fiscal cliff isn't the only thing happening at the stroke of midnight. more than 400 new laws take effect. some have a major impact including in new hampshire partial birth abortions will be banned. same sex couples will be able to marry in maryland. also registered sex offenders in illinois will no longer be able to dress up like santa or the easter bunny and will not be allowed to hand out candy on halloween. then there are some laws that just make you kind of go,...
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that's not even part of the fiscal cliff. that's in addition to the fiscal cliff. >>> good morning. we're live at the new york stock exchange. of course the moment we've been waiting for, the senate reconvening as we speak. 11:00 a.m. eastern time. we are waiting to see whether any progress has been made between republican senator mitch mcconnell and vice president joe biden. john harwood has told us they have not only had constructive talks, but talked past midnight, at 6:30 a.m. this morning. markets reacting quite like this, the dow down about 12 points, s&p positive by about three, and the nasdaq up about 15. meantime in hong kong, they are already celebrating the new year. this is a live picture of what's happening on the other side of the planet and that scene will be a lot more familiar to those on the east coast in just a few hours time. meantime just a few hours to go, still no deal on the fiscal cliff. how are the markets going to be impacted heading into the new year? head of research joining us from new york, andrew, happy new year to you. all kinds of predictions becaus
that's not even part of the fiscal cliff. that's in addition to the fiscal cliff. >>> good morning. we're live at the new york stock exchange. of course the moment we've been waiting for, the senate reconvening as we speak. 11:00 a.m. eastern time. we are waiting to see whether any progress has been made between republican senator mitch mcconnell and vice president joe biden. john harwood has told us they have not only had constructive talks, but talked past midnight, at 6:30 a.m. this...